City Of London
UK Ultra-Rich Make Final Plea to Labour Ahead of Budget Showdown
- Starmer aide Chandra spoke with Foreign Investors for Britain
- Labour said to be unlikely to adopt group’s non-doms proposals
Days before UK Chancellor Rachel Reeves unveils her attempt to balance the nation’s finances, a group representing the country’s wealthiest foreigners tried once again to make their case to the government as an increasing number of them threaten to leave if they’re forced to pay higher taxes.
Varun Chandra, Prime Minister Keir Starmer’s business adviser, spoke on Thursday with Foreign Investors for Britain, a lobbying group that represents the interests of the UK’s so-called non-doms. The briefing came after the group warned last month that Labour’s proposals for ending some of the preferential tax treatment enjoyed by non-doms wouldn’t raise funds as the government had initially hoped.